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. >>> we'll turn now to if fiscal cliff, 30 days from an economy-crippling deadline. yet talks seem to be going nowhere. treasury secretary timothy geithner will be the guest on "this week" with george stephanopoulos. >> last weekend, you sat right here and you said you were reasonably optimistic that a deal could be afoot. in the intervening week, lot of trash-talking from both sides, can we still be somewhat hopeful? >> this week was a rough week in these negotiations. treasury secretary geithner when he went up to capitol hill, mitch mcconnell laughed when they got the offer from geithner. house speaker boehner said that the talks are at a stalemate. democrats said they're not going to make another move until republicans say they're going to go for an increase in tax rates. so, this is stalemate right now. now, these things always look horrible when they come together. more and more voices say, this is going to go over the fiscal cliff at least for a few days in january. >> if we go over the fiscal cliff, voters will likely blame the republicans for that. is is tha
. >>> we'll turn now to if fiscal cliff, 30 days from an economy-crippling deadline. yet talks seem to be going nowhere. treasury secretary timothy geithner will be the guest on "this week" with george stephanopoulos. >> last weekend, you sat right here and you said you were reasonably optimistic that a deal could be afoot. in the intervening week, lot of trash-talking from both sides, can we still be somewhat hopeful? >> this week was a rough week in these...
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no one know was the consequences will really be if we go over that fiscal cliff. we know that the tax hikes go up. some estimates -- ben bernanke, the fed chairman, fears that it will throw the country into a recession. that would hurt the whole country, of course president obama as well. they have to be careful here as well. but democrats and the president clearly believe that they have the leverage to force an increase in these tax rates on the upper income americans before they agree to a deal. >> we'll all be watching the stock market as well. if that indeed happen. >>> the president is also concentrating on recasting his new cabinet and one name that came up yesterday is a replacement for leon panetta at the defense department. actually a republican, chuck hagel. former senator from nebraska. >> it's possible, but this is a real game of musical chairs right now. the president has to fill at least three big jobs, secretary of state, hillary clinton, defense and cia. and if the president does not choose susan rice that means john kerry goes to state and hagel g
no one know was the consequences will really be if we go over that fiscal cliff. we know that the tax hikes go up. some estimates -- ben bernanke, the fed chairman, fears that it will throw the country into a recession. that would hurt the whole country, of course president obama as well. they have to be careful here as well. but democrats and the president clearly believe that they have the leverage to force an increase in these tax rates on the upper income americans before they agree to a...
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>> wait for it. >>> but first, the struggle over avoiding the fiscal cliff. new polling suggests support for president obama's position in the standoff with congressional republicans. >> the new associated press poll finds 48% of americans want tax cuts for wealthy to expire. and it says more people want to cut government services than raise taxes to reduce the federal deficit. >> now, if the nation goes over the cliff at the end of the year, it's going to affect everyone, including the unemployed, as abc's jonathan karl reports. >> reporter: melinda vega has been put on notice. if congress and the president don't get their act together, her unemployment checks will stop immediately at the end of the year. >> we're dependent on that money to pay our bills. >> reporter: she's been without a job for a year. her $450 a week unemployment check her life line. >> we won't be able to pay some of our bills and, i mean, you know, that's for christmas and things of that nature, probably off the table. >> reporter: she is not alone. without a deal, unemployment compensa
>> wait for it. >>> but first, the struggle over avoiding the fiscal cliff. new polling suggests support for president obama's position in the standoff with congressional republicans. >> the new associated press poll finds 48% of americans want tax cuts for wealthy to expire. and it says more people want to cut government services than raise taxes to reduce the federal deficit. >> now, if the nation goes over the cliff at the end of the year, it's going to affect...
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from the fiscal cliff to the royal baby watchi inwatch, here "friday rewind." >> i think we're going over the cliff. it's pretty clear they made a political calculation. >> unfortunately the speaker's proposal right now is still out of balance. >> the president's idea of a negotiation is roll over and do what i ask. >> if i was working the way congress and the president are working, i would probably lose my job. >> it's absolutely wonderful news, and i'm delighted for them. i'm sure they will make absolutely brilliant parents. >> the duty of the wife of the future king is to provide an heir and hopefully a spare. >> this is potentially very serious for a pregnant woman. at this stage of pregnancy, however, most of the risks lie with the mother. >> there is no -- >> no extradition treaty. >> -- no extradition treaty. i chose guatemala carefully. >> all i know is there is a player with a gun. and i know that's not a good thing. >> it was an individual that did something that he snapped. and that i don't understand. i probably never will. >> i accidentally held it up. the dolphin jumped
from the fiscal cliff to the royal baby watchi inwatch, here "friday rewind." >> i think we're going over the cliff. it's pretty clear they made a political calculation. >> unfortunately the speaker's proposal right now is still out of balance. >> the president's idea of a negotiation is roll over and do what i ask. >> if i was working the way congress and the president are working, i would probably lose my job. >> it's absolutely wonderful news, and i'm...
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fiscal cliff, no hockey. what is wrong? come on, america. >> america. like $1 billion apart. >> wow. >> sad. much different labor issue cropped up outside a wal-mart in kansas city. mom to be, get it, labor. started feeling woozie while in the checkout line. she stepped outside for fresh air. that is when her water broke. >> oh, and game on after that. >> fortunately, off duty police officer, matt fell temperatuphe personal superhero with the help of the fire fighter and salvation army bell ringer they delivered her baby girl just eight minutes later. both mother and baby are doing just fine. >> eight minute delivery. >> eight minutes. jealous of that. hope she got the receipt for the baby highlighted as she left the door that. would be good. >> i go out. >> thank you. funnyman, bill murray in a very presidential movie role. >> living longer than you can possibly imagine, maybe even want, what the seniors of tomorrow can expect from the active elderly off to day. it's coming of on "world news now." ♪ forever young forever young ♪ ♪ forever young >
fiscal cliff, no hockey. what is wrong? come on, america. >> america. like $1 billion apart. >> wow. >> sad. much different labor issue cropped up outside a wal-mart in kansas city. mom to be, get it, labor. started feeling woozie while in the checkout line. she stepped outside for fresh air. that is when her water broke. >> oh, and game on after that. >> fortunately, off duty police officer, matt fell temperatuphe personal superhero with the help of the fire...
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and, diane, the official deadline for the fiscal cliff is december 31st at midnight when the ball drops in times square, but there's actually another deadline. the house of representatives is scheduled to go on winter break a week from friday, so really there are only 11 days to work out a plan as of now, diane. >> talk about the clock ticking down. thanks so much, jake. >>> and, of course, the president also spoke out today about the lethal stockpile of chemical weapons in the hands of the brutal regime in syria. chemicals so deadly, one drop can kill within minutes. abc's senior foreign affairs correspondent martha raddatz on these weapons and whether it means the u.s. may be forced to take action. >> reporter: the latest intelligence is alarming. officials telling abc news the u.s. is now seeing specific signs that the syrian regime may be preparing to use the chemical sarin against opposition forces. sarin is an extremely toxic substance that can kill a person in a matter of minutes with only one drop. the victims suffocated from the paralyzing effects of the toxin. this new intelli
and, diane, the official deadline for the fiscal cliff is december 31st at midnight when the ball drops in times square, but there's actually another deadline. the house of representatives is scheduled to go on winter break a week from friday, so really there are only 11 days to work out a plan as of now, diane. >> talk about the clock ticking down. thanks so much, jake. >>> and, of course, the president also spoke out today about the lethal stockpile of chemical weapons in the...
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the jobs report comes on the heels of the ongoing fiscal cliff debate. economists estimate 200,000 fewer jobs have been created this year due to uncertainty over the fiscal cliff. aides to president obama and speaker boehner met yesterday afternoon, but that meeting ended with no signs of progress. stay with abc7 morning news, 6:30 the opening bell live from the new york stock exchange. 6:45 live to jane king for an update. >>> in a few hours pearl harbor survivors as well as military and coast guard veterans will place a wreath in alameda to mark the 71st anniversary of the japanese attack on the pearl harbor base in hawaii. it will be followed by a 20 within gun salute. more than 2400 americans died when the japanese bombed pearl harbor in a surprise attack december 7th, 1941. the attack helped usher the u.s. into world war ii. 3:45 in afternoon sons and daughters of survivors will attend the 48th annual beacon lighting in honor of pearl harbor day. >>> the iphone is likely coming to t-mobile in the new year, the company says it will add apple products
the jobs report comes on the heels of the ongoing fiscal cliff debate. economists estimate 200,000 fewer jobs have been created this year due to uncertainty over the fiscal cliff. aides to president obama and speaker boehner met yesterday afternoon, but that meeting ended with no signs of progress. stay with abc7 morning news, 6:30 the opening bell live from the new york stock exchange. 6:45 live to jane king for an update. >>> in a few hours pearl harbor survivors as well as military...
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but another fiscal cliff was on the horizon, and that is the debt. but they also want to do, timothy geithner said, we are going to take away from congress approval of raising the debt ceiling. we can do it on our own. that is an outrage. congress has the power of the not this president to spend more money we don't have. megyn: even alan colmes was on the programs they shouldn't get congressional approval for that. but where is the republican proposal? they say that they want to close loopholes and get rid of some deductions, but when it comes to big issues, which is paring back spending, what are they proposing? over the weekend, mitch mcconnell, the senate minority leader, he offered a few nuggets and i would like to get your thoughts. he said increase the medicare eligibility age, ask wealthier americans to pay higher medicare premiums. and possibly paring back the cost of living increases, giving to social security beneficiaries. those are three specific so we have heard so far from the gop side. what are your thoughts on that? >> i think that is
but another fiscal cliff was on the horizon, and that is the debt. but they also want to do, timothy geithner said, we are going to take away from congress approval of raising the debt ceiling. we can do it on our own. that is an outrage. congress has the power of the not this president to spend more money we don't have. megyn: even alan colmes was on the programs they shouldn't get congressional approval for that. but where is the republican proposal? they say that they want to close loopholes...
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so then on top of that you got to fiscal cliff discussions in washington where the president wants to raise the income tax on top earners by another 3% or so in addition to this, these taxes you and i were just discussing. >> yeah. and that's a crucial point, because obama has repeatedly said he wants to go back to clinton era rates, but that ignores this new surtax at the beginning of the year. if they take the top rate from 35 to 39.6, it'll actually be 43.4 on investment income because we'll have that additional surtax on top of that. so dividends, for instance, which are 15 now could be going all the way to 43.4 which could have a very negative impact on the stock market. megyn: so right now if you make money off dividends, which a lot of folks do. you know, it's not just the super rich who get dividend income from their stock investments, right now you pay a 15% tax on that, and president obama wants to change that to you should get taxed on that income as though it's your actual, like, salary. and if that, if he gets his way on that, then that income goes up to whatever your sal
so then on top of that you got to fiscal cliff discussions in washington where the president wants to raise the income tax on top earners by another 3% or so in addition to this, these taxes you and i were just discussing. >> yeah. and that's a crucial point, because obama has repeatedly said he wants to go back to clinton era rates, but that ignores this new surtax at the beginning of the year. if they take the top rate from 35 to 39.6, it'll actually be 43.4 on investment income because...
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alisyn: the fiscal cliff in particular. >> we got to the fiscal cliff because you had a bunch of republicans who wanted not to work with this president. now you've got republicans all of a sudden saying they are not going to take tax pledges like grover more question is wants, they are open to revenue enhancement. if they had said that two years ago or one year ago moody's wouldn't have lowered the pwhopbd ratinbond rating of the united states. they've created such uncertainty. alisyn: now that we are at the 11th hour where do you think we are now. >> i know that alan hasn't had a lot of private conversations with republican lawmakers, but take it from somebody who has. >> you don't know. >> these guys feel he will feel stymied, frustrated. they are not in the door. it's not even about compromising, that isn't even the right word. open the door, let's sit down and try to bargain and negotiate. he doesn't do that. alisyn: moving back to what the singer from the fray say. wouldn't it help for the president to invite the republicans instead of this adversarial conference room table, why not go
alisyn: the fiscal cliff in particular. >> we got to the fiscal cliff because you had a bunch of republicans who wanted not to work with this president. now you've got republicans all of a sudden saying they are not going to take tax pledges like grover more question is wants, they are open to revenue enhancement. if they had said that two years ago or one year ago moody's wouldn't have lowered the pwhopbd ratinbond rating of the united states. they've created such uncertainty. alisyn:...
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my view is there is no fiscal cliff or debt cliff. there is a political cliff and he wants to push the republicans off. the debate is how much do republicans will surrender and then get blamed by their party or how much they won't surrender and get blamed for a recession. i have to say for president obama as bad as it looks it may be a winning hand. >> he's certainly playing the hand of someone who as he said in his press conference won the election. there is no compromise here. i think there is a fiscal cliff and there is a political cliff. the president has the upper hand. taxes go up in the way his base want on wealthy people and what he wants to do is say if you don't go along with me you republicans are responsible for raising taxes on the middle class and will be responsible for the recession that's almost certain to come. >> there is no serious debating over avoiding the fiscal cliff. it's a political fight. this is a democratic party that hasn't passed a budget in years. the press corps is on the same page. everyone is asking
my view is there is no fiscal cliff or debt cliff. there is a political cliff and he wants to push the republicans off. the debate is how much do republicans will surrender and then get blamed by their party or how much they won't surrender and get blamed for a recession. i have to say for president obama as bad as it looks it may be a winning hand. >> he's certainly playing the hand of someone who as he said in his press conference won the election. there is no compromise here. i think...
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for more on the fiscal cliff stalemate. let's bring in angela mcglowan, and dick, from the south carolina democratic party. look, i've got the questions prepared and i've got to ask the fundamental question most americans are requesting, what the heck is going on with the house and president obama. >> didn't we learn in 2011, where the government seemed less stable and our triple-a rating went down to a double-a rating and right now, john thune was right, it takes time to bush legislation through and we can't have a deal cut on christmas eve. >> is this brinksmanship on behalf of the president and time geithner, his treasury secretary, in terms of what the dems are now offering congress? >> no, i think the president has made a riegsal offer and of course, it's an opening offer, but that silence is deafening for the republicans, for the republicans' response. their political lemmings getting ready to go off the fiscal cliff and rather do that and not violate the no tax pledge they made to grover norquist than to move the bal
for more on the fiscal cliff stalemate. let's bring in angela mcglowan, and dick, from the south carolina democratic party. look, i've got the questions prepared and i've got to ask the fundamental question most americans are requesting, what the heck is going on with the house and president obama. >> didn't we learn in 2011, where the government seemed less stable and our triple-a rating went down to a double-a rating and right now, john thune was right, it takes time to bush legislation...
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we have the fiscal cliff negotiations going on on capitol hill. for young republicans right now, as you listen to what both sides are saying in this debate, where do young republicans fall on raising taxes for the wealthiest to help pay down the debt? >> sure. thank you for having us on today, of course. but i think it's just important that as a party, our candidates are making sure that our voices are modernizing, not necessarily moderating. we don't necessarily have to fundamentally change who we are as a party and who we are as republicans. we have to make sure that our voices on taxes, on spending on the economy, are heard loud and clear. just as meghan said, the economic issues are driving many young voters indeed. so where we stand on taxes is that they should be low, but most importantly, in regards to college students and younger voters, we need to make sure that when we graduate college, that we're put to that a job environment that we're able to live productively, that we're not burdened by higher taxes, that we're not burdened by the di
we have the fiscal cliff negotiations going on on capitol hill. for young republicans right now, as you listen to what both sides are saying in this debate, where do young republicans fall on raising taxes for the wealthiest to help pay down the debt? >> sure. thank you for having us on today, of course. but i think it's just important that as a party, our candidates are making sure that our voices are modernizing, not necessarily moderating. we don't necessarily have to fundamentally...
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please don't make me say "fiscal cliff" again. the two words. all i talk about. >> eric: we had predictions that they will come to a deal. it's political jockeying now. >> that is what we are hoping for. >> eric: that is what all americans want. >> jamie: three words. fasten your seat belt. new report that the aging infrastructure may have played a role in freight train derailment in new jersey. truly tragic. seven cars jumping the tracks while the train was crossing a bridge. the problem is it was carrying hazardous chemicals in the air. live in the new york news room. i know there were evacuations. did the folks get go back home? >> the national transportation safety board saying the conductor with con-raid since 2008. worked the accident route previously but this was his first week back on it. the ntsb pointed to a faulty traffic signal for causing friday bridge collapse. train derailment and the toxic chemical release that caused the health problem for residents in pollsborough, new jersey. >> they are going to work the point of derailment a
please don't make me say "fiscal cliff" again. the two words. all i talk about. >> eric: we had predictions that they will come to a deal. it's political jockeying now. >> that is what we are hoping for. >> eric: that is what all americans want. >> jamie: three words. fasten your seat belt. new report that the aging infrastructure may have played a role in freight train derailment in new jersey. truly tragic. seven cars jumping the tracks while the train was...
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keep in mind again, you know, people call it a fiscal cliff. when you go off a cliff you usually die. my view is there are challenges in front of us. we've had them before. this is pretty significant. but we have a plan in place. no one really likes it, but at the end of the day come january, these things start to happen. the deficit gets a reduction because the tax cuts go away, the budget cuts go into play. the question is are we going to have the wherewithal to give some long-term certainty to the market so they don't have this up and down action of congress. after four years in congress i have to tell you it's one of the most disturbing thing i've seen, the lack of foresite of looking two, three, four, five years down the road. everyone plays to the next week. give it about a 40% chance of some element. the big question is have the markets worked into some of their pricing on stocks and bonds and so forth, some of this anticipation of going over these fiscal challenges? i think they probably have to to a certain degree. but it will be a rou
keep in mind again, you know, people call it a fiscal cliff. when you go off a cliff you usually die. my view is there are challenges in front of us. we've had them before. this is pretty significant. but we have a plan in place. no one really likes it, but at the end of the day come january, these things start to happen. the deficit gets a reduction because the tax cuts go away, the budget cuts go into play. the question is are we going to have the wherewithal to give some long-term certainty...
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. >> if is the administration prepared too go over the fiscal cliff. >> absolutely. there is no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthist, remember it's only 2%. >> he did not blink. that is the treasury secretary. do they talk like that? >> it's really unique. this treasury secretary is very loyal to this president, treasury secretaries are, but he is saying essentially that the tax rates going up are essential, that the money is not essential, that the dollar figure is not essential, that the rates going up are essential, and that's just interesting. going over the cliff comes with a lot of -- a lot of things that could affect the economy and the treasury secretary knows that. bill: 10% unemployment. tax rates for everybody going higher. what are you hearing on the house side? among the house republicans, whether or not they are behind the speaker, whether they are pulling away from him, where does that stand do you believe? >> reporter: you know, there are some on the house side that have a lot of concerns ab
. >> if is the administration prepared too go over the fiscal cliff. >> absolutely. there is no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthist, remember it's only 2%. >> he did not blink. that is the treasury secretary. do they talk like that? >> it's really unique. this treasury secretary is very loyal to this president, treasury secretaries are, but he is saying essentially that the tax rates going up are essential,...
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bill: hen we have the fiscal cliff. before we go over that cliff we'll pull you back later in the week. martha: there is a potentially dangerous situation taking shape on the west coast. no relief in site as a strong storm has pounded that region. tens of thousands of people are in the dark. we are in the fox extreme weather center with the latest on that pressing situation next. bill: a 95-year-old man left homeless by hurricane sandy but no more. this story will warm your heart just in time for the holiday season. >> he didn't know me from adam and look. see what he did? he's wonderful. [ female announcer ] the humana walmart-preferred rx plan p-d-p gives you a low $18.50 monthly plan premium... and select generic hypertension drugs available for only a penny... so you can focus on what really matters. call humana at 1-800-808-4003. so you can focus on what really matters. music: "make someone happy" music: "make someone happy" ♪it's so important to make meone happy.♪.♪it's so e ♪make just one heart to heart y
bill: hen we have the fiscal cliff. before we go over that cliff we'll pull you back later in the week. martha: there is a potentially dangerous situation taking shape on the west coast. no relief in site as a strong storm has pounded that region. tens of thousands of people are in the dark. we are in the fox extreme weather center with the latest on that pressing situation next. bill: a 95-year-old man left homeless by hurricane sandy but no more. this story will warm your heart just in time...
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we do not want to go off the fiscal cliff. martha: the white house is saying, obviously, they will not do any deal that does not include what was one of their number one campaign motivations and slogans, and that was that taxes must go up. the tax rate must go up on the rich. so what are you going to do with that? >> look, the president said he wanted revenues, we provided revenues -- martha: he's saying tax rates must go up, and are you saying there is no way still that that will happen, not even the slightest bit? >> new taxes are coming out with obamacare. we're continuing to tax individuals. we're harming our growth. can we get the revenue the president asks? yes, we can, with protecting the growth in the economy x. that's what we provided to the president. the president continues to change the goalpost along this process. we think what has to happen here now that if we agreed to revenue, let's talk about the balanced approach and the two and a half times the spending cuts. the president won't talk about that. in geithner'
we do not want to go off the fiscal cliff. martha: the white house is saying, obviously, they will not do any deal that does not include what was one of their number one campaign motivations and slogans, and that was that taxes must go up. the tax rate must go up on the rich. so what are you going to do with that? >> look, the president said he wanted revenues, we provided revenues -- martha: he's saying tax rates must go up, and are you saying there is no way still that that will happen,...
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tim geithner is the point person for negotiating the fiscal cliff,/after launch. martha: that is not tim geithner. bill: that is not. but that is. they're talking. not just harry reid he is talking to. republican leaders on the house side too so critical of this, john boehner, eric cantor. how will these talks go? we'll follow it and let you know what is happening in two minutes when we continue. >> i'm trying not to paint us into too many boxes where i paint john boehner into a box that tells him what to do. year again and now -- i got a great new way to get deals. it's called bankamerideals, from bank of america. i choose the cash back deals in my mobile or online banking. i just use my bank of america debit or credit card when i pay. and i get as much as 15% cash back -- put into my account. this is on top of other rewards and discounts i already get. best of all -- it's free. happy holidays. [ male announcer ] introducing bankamerideals, free for online banking customers. sign in to your online banking to choose your deals today. now is a good time to think ab
tim geithner is the point person for negotiating the fiscal cliff,/after launch. martha: that is not tim geithner. bill: that is not. but that is. they're talking. not just harry reid he is talking to. republican leaders on the house side too so critical of this, john boehner, eric cantor. how will these talks go? we'll follow it and let you know what is happening in two minutes when we continue. >> i'm trying not to paint us into too many boxes where i paint john boehner into a box that...
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that is the fiscal cliff. we shouldn't be dealing with other issues that are long term in order to avert the cliff as it were. that is immediate crisis. we have long term situation --. bill: but you know when lawmakers get a little bit of rope, you know, when they get time to think about it and push it off to the next year, it never gets done. this budget proposal, there are many who wonder whether or not even democrats could support it. the last budget that came from the white house went to the senate, it went 98-0 against it. no one voted for it. melissa: well, that was kind of a tricky parliamentary issue as well but, i do take issue with one thing, the idea we haven't dealt with entightments. we had two years, a year and a half we debated medicare. we made significant changes in medicare. we just had a campaign which republicans including governor romney time after time after time charged that we had cut $616 billion in spending out of medicare and we reformed the program. we have looking toward new ways t
that is the fiscal cliff. we shouldn't be dealing with other issues that are long term in order to avert the cliff as it were. that is immediate crisis. we have long term situation --. bill: but you know when lawmakers get a little bit of rope, you know, when they get time to think about it and push it off to the next year, it never gets done. this budget proposal, there are many who wonder whether or not even democrats could support it. the last budget that came from the white house went to...
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the republicans and democrats alike designed the fiscal cliff. it's a series of bipartisan compromises and i think it's kind of foolish to think that this group of congressmen and senators is going to come up with a way out of something they themselves designed. >> rich, you worked for a republican speaker who went up against a democratic president over the spending issues. back then the face-off didn't turn out all that well for your party. obviously very different era. do you agree with eric's take? is the right strategy for republicans to stick to their guns, forget about compromise? >> no. i really don't -- eric is one of my favorite people. we talk a lot. but i think that, and i did work for the speaker gingrich during the shut-down fight in '96, and it did not work out well for republicans. the president has a much bigger bully pulpit than the speaker does. newt gingrich's bully pulpit was pretty big back in those days but at some point, republicans in the house -- and i think boehner is trying to look for ways to do this, speaker boehner,
the republicans and democrats alike designed the fiscal cliff. it's a series of bipartisan compromises and i think it's kind of foolish to think that this group of congressmen and senators is going to come up with a way out of something they themselves designed. >> rich, you worked for a republican speaker who went up against a democratic president over the spending issues. back then the face-off didn't turn out all that well for your party. obviously very different era. do you agree with...
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i think this brinksmanship about the budget and the fiscal cliff is all just fine. i don't want to go over the cliff. i think it would be irresponsible. >> does the president want to go over? we got to listen to all the republicans and the conservative media today are saying president obama wants to go over the fiscal cliff because then taxes go up across the board. and then it's got to be done retroactively. >> which is not what the president wants, but there's a big difference between this fiscal cliff and the full faith and credit of the united states. the american government has never defaulted on its debt. and now there are some, not the majority of republicans but some on the extreme of the republican party and they seem to be in control, who seem to want to default on our debt. that's crazy. if they cannot be entrusted with the full faith and credit of the united states, they should not have that leverage. >> paul, where were the overtures though? where were the overtures with this deal that was presented? i mean, listen, you don't have to be mensa to know de
i think this brinksmanship about the budget and the fiscal cliff is all just fine. i don't want to go over the cliff. i think it would be irresponsible. >> does the president want to go over? we got to listen to all the republicans and the conservative media today are saying president obama wants to go over the fiscal cliff because then taxes go up across the board. and then it's got to be done retroactively. >> which is not what the president wants, but there's a big difference...
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Dec 6, 2012
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in the midst, and we'll talk about the fiscal cliff in a minute, about the midst of the fiscal cliff and who's doing what, this is a huge news story, dropped on capitol hill that seemed to take everybody by surprise. what's the reaction up there. >> reporter: the pieces that are less sprying look at the fact that republicans failed to reclaim majority, that always has an influence on how much power senators think they have if they're among the minority. jim demint said he would not seek another term. at some point there was a plan for him to forecast his future. the timing of doing it right now certainly caught people by surprise. but it also is a point where it tells you that he feels comfortable that the voice of objection on some things has been the seed has been filled here. he's got a mike lee of utah, rand paul of kentucky, who can fill some of the void that he would be leaving. it really is also, perhaps, good news for someone like mitch mcconnell, he can with his own reelections coming up not have the counterweight of jim demint's considerable presence within the chamber. so
in the midst, and we'll talk about the fiscal cliff in a minute, about the midst of the fiscal cliff and who's doing what, this is a huge news story, dropped on capitol hill that seemed to take everybody by surprise. what's the reaction up there. >> reporter: the pieces that are less sprying look at the fact that republicans failed to reclaim majority, that always has an influence on how much power senators think they have if they're among the minority. jim demint said he would not seek...
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that's really what the crux of this fiscal cliff negotiation -- what these fiscal cliff negotiations are all about. they're about fairness. when the president and congressional democrats talk about the need for balanced approach, to deficit reduction and dealing with the fiscal cliff, we're talking about fairness. we're talking about making sure that if you work hard and play by the rules everyone has a chance to succeed. that the middle class needs certainly tight right now. speaker pelosi and my colleague congressman tim walls, filed a discharge petition today to take the bill that we have, that has already passed the senate, that grants certainty to the middle class, to take that bill up and make sure that we can extend the middle class tax breaks before the holidays where we can give -- that's what everyone agrees on. i don't know any republican or democrat that thinks we should let those tax rates -- tax cuts for the middle class expire. so we should pass that now. and then on the things that we're having more trouble agreeing on, we should sit down at the table. the one thing i
that's really what the crux of this fiscal cliff negotiation -- what these fiscal cliff negotiations are all about. they're about fairness. when the president and congressional democrats talk about the need for balanced approach, to deficit reduction and dealing with the fiscal cliff, we're talking about fairness. we're talking about making sure that if you work hard and play by the rules everyone has a chance to succeed. that the middle class needs certainly tight right now. speaker pelosi and...
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following the latest on the fiscal cliff fiasco. congress is facing the issue of the fiscal cliff and other tough economic decisions. why did just today republican leadership cancel tomorrow's session allowing the house to leave town with three days left on the legislative calendar? i'll talk with two democratic members of congress just and allyson schwartz and john yarmuth. i'll talk to roger simon. he has a scathing new column out on republicans. roger says, quote, listen to this, republicans have found their stab in the back. it was the minorities what done them in. that's what he wrote. we'll ask him about it. ♪ i'd like to thank eating right, whole grain, multigrain cheerios! mom, are those my jeans? [ female announcer ] people who choose more whole grain tend to weigh less than those who don't. multigrain cheerios stop! stop! stop! come back here! humans -- we are beautifully imperfect creatures living in an imperfect world. that's why liberty mutual insurance has your back with great ideas like our optional better car repla
following the latest on the fiscal cliff fiasco. congress is facing the issue of the fiscal cliff and other tough economic decisions. why did just today republican leadership cancel tomorrow's session allowing the house to leave town with three days left on the legislative calendar? i'll talk with two democratic members of congress just and allyson schwartz and john yarmuth. i'll talk to roger simon. he has a scathing new column out on republicans. roger says, quote, listen to this, republicans...
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Dec 7, 2012
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that's part of the reason we want to avoid the fiscal cliff. it's actually too much deficit reduck sln too quickly in the wrong parts of the budget. you want a more thoughtful, thought out plan. on your point about the debt ceiling, we what we need is to have certainty, know where we're headed. not have multiple showdowns but the debt ceiling is only going to be increased significantly if it goes hand in hand with a big enough deal which has real changes in the budget. so the best thing we could do is put in place a balanced plan deals with all parts of the budget and really provides the kind of sense of security that households, small businesses, everybody needs to know so we can start planning for the economy and hopefully getting things growing back again. one of the things you see is that when your debt levels are as high as they are, in this country right now, that's a tamp on economic growth and can harm growth. that's the point we're at. we know that part of a growth strategy will have to be getting control of these deficits and debt and
that's part of the reason we want to avoid the fiscal cliff. it's actually too much deficit reduck sln too quickly in the wrong parts of the budget. you want a more thoughtful, thought out plan. on your point about the debt ceiling, we what we need is to have certainty, know where we're headed. not have multiple showdowns but the debt ceiling is only going to be increased significantly if it goes hand in hand with a big enough deal which has real changes in the budget. so the best thing we...
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with no agreement, going over the fiscal cliff would be painful. the automatic tax increases break down like this: households making $20,000 to $40,000 would see an increase in $1,200 a year. incomes of $40,000 to $64,000 would see taxes rise $2,000 and in the $64,000 to $108,000 bracket taxes go up $3,500 a year. mr. obama and the republican speaker of the house talked this over today and here's major garrett at the white house. major? >> reporter: scott, there is a code of silence the white house and speaker boehner's try to apply to these phone conversations, releasing as few details as possible to protect the underlying negotiations. nevertheless, cbs news has learned the following: the speaker and the president spoke before treasury secretary geithner's comments about going over the cliff. the conversation was described as brief, meaning shorter than the 28-minute conversation speaker boehner and the president had last week. also those familiar with the conversation tell me-- or do not used words like "curt," "frank" and "direct" meaning it wa
with no agreement, going over the fiscal cliff would be painful. the automatic tax increases break down like this: households making $20,000 to $40,000 would see an increase in $1,200 a year. incomes of $40,000 to $64,000 would see taxes rise $2,000 and in the $64,000 to $108,000 bracket taxes go up $3,500 a year. mr. obama and the republican speaker of the house talked this over today and here's major garrett at the white house. major? >> reporter: scott, there is a code of silence the...
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it will be such a shock to the system that it has been called the fiscal cliff. our coverage starts on the white house lawn tonight with major garrett. major. >> reporter: scott, the saesident said for the first time, there is a two-step process to averting the fiscal cliff. republicans must act now to prevent a tax increase for households earning less than $250,000. do that now, president obama said, and he and congress can work out the details of spending cuts later. ( applause ) before a crowd of supporters, the white house invited from the mid-atlantic region, president obama put congressional republicans on notice. >> it's too important for washington to screw this up. now is the time for us to work on what we all agreed to, which is lets keep middle class taxes low. that's what our economy needs. that's what the american people deserve. gd if we get this part of it right, then a lot of the other issues surrounding deficit reduction in a fair and balanced, responsible way are going to be a whole lot easier. >> reporter: white house officials say mr. obama is
it will be such a shock to the system that it has been called the fiscal cliff. our coverage starts on the white house lawn tonight with major garrett. major. >> reporter: scott, the saesident said for the first time, there is a two-step process to averting the fiscal cliff. republicans must act now to prevent a tax increase for households earning less than $250,000. do that now, president obama said, and he and congress can work out the details of spending cuts later. ( applause ) before...
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>> reporter: scott, leading republicans are now calling the president's latest fiscal cliff proposals-- and these are quotes-- "unreasonable, not serious even ludicrous." on the negotiations that are necessary to avoid the cliff, here's how house speaker john boehner described the status there. >> no, there's a stalemate. let's not kid ourselves. i'm not trying to make this more difficult. >> reporter: what set off this reaction was the president's proposal for $1.6 trillion in new taxes over ten years with tst of that coming from a tax hike on single americans making hire than $200,000 and married couples filing jointly making $250,000. boehner has hinted that republicans might raise half of that, $800 billion, but only by reducing tax loopholes. >> getting rid of special interest deductions and not raising rates we think is better for the economy, pure and ecole. >> reporter: there is also a gap on spending cuts. yemocrats say they've already agreed to cut one trillion dollars from future spending, republicans, including majority leader eric cantor, responded with this: >> all of a
>> reporter: scott, leading republicans are now calling the president's latest fiscal cliff proposals-- and these are quotes-- "unreasonable, not serious even ludicrous." on the negotiations that are necessary to avoid the cliff, here's how house speaker john boehner described the status there. >> no, there's a stalemate. let's not kid ourselves. i'm not trying to make this more difficult. >> reporter: what set off this reaction was the president's proposal for $1.6...
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cliff. >> one of those people who say let the fiscal cliff happen. >> i can't imagine when it gets down to it that rational people would let it happen. >> one lucky ticket holder may have been captured on tape at the very moment that he realized he hit jackpot. >> he was ecstatic. everybody was checking the see he wasn't seeing things. he wasn't seeing things. it was the right number. >> many people up and down the west coast are keeping a close eye on the triple threat of storms. >> friday is going to be bad. sunday is going to be even worse. >> they don't call them new york's finest for nothing. an officer is famous for buying boots for a homeless man. >> he said, okay, officer, i never had a pair of shoes. >> i know so many cops who have done things like this and it's just not captured. it's nice to see a story like this get out. >> mitt romney has lunch with president obama. it was an awkward moment when the bill came and he only offered to pay 47%. >>> i'm charlie rose with norah o'donnell. gayle king is off. lottery officials in missouri today are going to introduce the holders of
cliff. >> one of those people who say let the fiscal cliff happen. >> i can't imagine when it gets down to it that rational people would let it happen. >> one lucky ticket holder may have been captured on tape at the very moment that he realized he hit jackpot. >> he was ecstatic. everybody was checking the see he wasn't seeing things. he wasn't seeing things. it was the right number. >> many people up and down the west coast are keeping a close eye on the triple...
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. >>> some folks worried now about the fiscal cliff. one economist worried that a budget deal will actually hurt the economy and send unemployment sky-high. i'll hear what he has to say up next. [ male announcer ] introducing... a new way to save on your prescriptions. it's the aarp medicarerx saver plus plan from unitedhealthcare. with this plan, you can get copays as low as a dollar through a preferred network pharmacy like walgreens -- where you'll find 8,000 convenient locations. best of all, this plan has the lowest part d premium in the united states -- only $15 a month. open enrollment ends december 7th. so call today or visit your local walgreens. ♪ ♪ [ male announcer ] everyone deserves the gift of all day pain relief. this season, discover aleve. all day pain relief with just two pills. home of the legendary grand prix circuit. the perfect place to bring the all-new cadillac ats to test the 2.0-liter turbo engine. [ engine revs ] ♪ [ derek ] 272 horsepower. the lightest in its class. the cadillac ats outmatches the bmw 3
. >>> some folks worried now about the fiscal cliff. one economist worried that a budget deal will actually hurt the economy and send unemployment sky-high. i'll hear what he has to say up next. [ male announcer ] introducing... a new way to save on your prescriptions. it's the aarp medicarerx saver plus plan from unitedhealthcare. with this plan, you can get copays as low as a dollar through a preferred network pharmacy like walgreens -- where you'll find 8,000 convenient locations....
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fiscal cliff, 26 days away. christine romans explains how going over the cliff could affect you and your family. >> reporter: brooke, here's what the sequester could mean for domestic programs. fewer women and children with assistance and child care aid. cuts to education nearly 100,000 head start spots at risk. more than 25,000 teachers and teachers aids could lose their jobs and science and public research grants could be cut including in to cancer and childhood diseases. fewer americans could receive drug abuse treatment and $700 million slashed from the epa budget. cutting back of food inspection. disaster relief, omb says, quote, the federal emergency management administration's ability to respond would be undermined. and finally, from border patrol to hiring new fbi agents, correction officers, federal prosecutors, all could be scaled back. now, all of these cuts, brooke, don't happen exactly at 12:01 a.m. on january 2nd. they happen over the course of a year. but agencies are preparing for an impasse in w
fiscal cliff, 26 days away. christine romans explains how going over the cliff could affect you and your family. >> reporter: brooke, here's what the sequester could mean for domestic programs. fewer women and children with assistance and child care aid. cuts to education nearly 100,000 head start spots at risk. more than 25,000 teachers and teachers aids could lose their jobs and science and public research grants could be cut including in to cancer and childhood diseases. fewer...
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who will blink first on the fiscal cliff? not the obama administration as timothy geithner told cnbc, bring it on. >> is the administration prepared to go over the fiscal cliff? >> absolutely. again, there's no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthiest. >> taxpayers might think that's easy for geithner to say. what about all those middle class families whose tax will go up more than $2,000 if, as geithner suggests, we take a dive off that cliff? even though president obama and john boehner chatted on the phone, there's still no deal. republicans are not amused. >> incredibly, many top democrats, including the president, seem perfectly happy. perfectly happy to go off the cliff. that's why the president has been more interested in campaign rallies than actually negotiating a deal. >> many americans don't have much hope the two side also come up with a deal. they've moved on already to plan b. the retired teacher in utah has put off plans to get a new car. brian chandler,
who will blink first on the fiscal cliff? not the obama administration as timothy geithner told cnbc, bring it on. >> is the administration prepared to go over the fiscal cliff? >> absolutely. again, there's no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthiest. >> taxpayers might think that's easy for geithner to say. what about all those middle class families whose tax will go up more than $2,000 if, as geithner suggests, we...
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by week's end, fiscal cliff talks were at a standstill. it was all doom and gloom and, they're not serious, what's wrong? we hate them again. let's bring in our body language expert, susan constantine, to help us. we want to start with house speaker, john boehner. he was saying on wednesday he was optimistic about a deal. >> republicans are committed to continuing to work with the president to come to an agreement to avert the so-called fiscal cliff. optimistic that we can continue to work together to avert this crisis and sooner rather than later. >> very next day, boehner is suddenly grim, talks having accomplished a thing. >> no substantive progress has been made in the talks between the white house and the house over the last two weeks. this is not a game. jobs are on the line. the american economy is on the line. and this is a moment for adult leadership. campaign-style rallies and leaks in the press are not the way to get things done here in washington. >> all right. susan, you're looking at the monitor and looking at his body langua
by week's end, fiscal cliff talks were at a standstill. it was all doom and gloom and, they're not serious, what's wrong? we hate them again. let's bring in our body language expert, susan constantine, to help us. we want to start with house speaker, john boehner. he was saying on wednesday he was optimistic about a deal. >> republicans are committed to continuing to work with the president to come to an agreement to avert the so-called fiscal cliff. optimistic that we can continue to...
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. >>> the fiscal cliff, less than a month away. if democrats and republicans don't reach an agreement, everybody's taxes will go up january 1st, and as emily schmidt reports, there's been a lot of talking on the sunday talk shows but not at the negotiating table. >> reporter: it's been 16 days since president obama and congressional leaders met to talk about how to avoid the fiscal cliff. the automatic spending cuts and tack increases that begin to kick in if there's no agreement by january 1st. 16 days to get here. >> i think we're far apart still, but i think we're moving closer together. >> i would say we're nowhere, period. we're nowhere. >> reporter: thursday treasury secretary timothy geithner proposed president obama's plan which included $1.6 trillion in tax revenue coming largely from an expiration of bush era tax cuts for families who make more than $250,000 a year. geithner says that's a must. >> there's not going to be an agreement without rates going up. >> reporter: the administration's plan also included $50 billion
. >>> the fiscal cliff, less than a month away. if democrats and republicans don't reach an agreement, everybody's taxes will go up january 1st, and as emily schmidt reports, there's been a lot of talking on the sunday talk shows but not at the negotiating table. >> reporter: it's been 16 days since president obama and congressional leaders met to talk about how to avoid the fiscal cliff. the automatic spending cuts and tack increases that begin to kick in if there's no agreement...
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could plunge off the fiscal cliff. this morning at least one republican is saying it's looking more like that's going to happen. after the plan laid out by the white house. >>> and she helped care for more than 140 children whose parents are behind bars in nepal. now she's got a new title. cnn hero of the year. cnn hero of the year. "newsroom" starting now. -- captions by vitac -- www.vitac.com >>> good morning. thank you so much for joining me. i'm carol costello. concern this morning that a young woman's death will be overshadowed by fame. by now, even if you're not a football fan, you know the name jovan belcher. you know he killed the mother of his child and then committed suicide. but what do we know about his girlfriend? his partner? the mother of his child, kasandra perkins? according to the kansas city star perkins and belcher were madly in love but argued of late. the star added many people knew that belcher owned guns and enjoyed shooting but they'd never known him to be violent. not even close. nbc's bob cos
could plunge off the fiscal cliff. this morning at least one republican is saying it's looking more like that's going to happen. after the plan laid out by the white house. >>> and she helped care for more than 140 children whose parents are behind bars in nepal. now she's got a new title. cnn hero of the year. cnn hero of the year. "newsroom" starting now. -- captions by vitac -- www.vitac.com >>> good morning. thank you so much for joining me. i'm carol costello....
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the fiscal cliff. guess what, the white house rejected it, calling the gop proposal unbalanced and not serious. translation? no tax hikes on the wealthy so democrats said forget about it. we thought you should take a look. it totals $2.2 trillion in deficit reduction over ten years. the part that stood out to us was $600 billion in proposed savings in medicare reforms. how? in part by raising the age of eligibility to 65 to maybe 67. turning down the gop proposal, dan pfieffer said, quote, it provides no details on which deductions they would eliminate, which loopholes they will close or which medicare savings they would achieve." let's head now to the white house and dan lothian. the white house will not offer a counter proposal, right? what's going on here? >> reporter: well, you know, i think the white house is digging in. the president said early on in this process that he would only sit down and really move forward, negotiate on this in any meaningful way if the tax hikes for the wealthy expired.
the fiscal cliff. guess what, the white house rejected it, calling the gop proposal unbalanced and not serious. translation? no tax hikes on the wealthy so democrats said forget about it. we thought you should take a look. it totals $2.2 trillion in deficit reduction over ten years. the part that stood out to us was $600 billion in proposed savings in medicare reforms. how? in part by raising the age of eligibility to 65 to maybe 67. turning down the gop proposal, dan pfieffer said, quote, it...
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the number of days before the nation is going to slip over the fiscal cliff and that is what people are talking about. unfortunately, in washington they are not talking to each other about it. right now president obama is meeting with the washington business roundtable. that's just minutes after speaker boehner met with rank and file gop lawmakers and former speaker pelosi met with house democrats. they are all in each other's corners speaking amongst each other but all eyes are on the fiscal cliff. let's scoot over to the president. easy merging from that meeting with the washington business leaders. let's see what he has to say. >> jim, thanks for your leadership. you know, originally my team had prepared some remarks, they always get nervous when i'm out there on my own, never know what i might say. but given the dialogue that we had the last time, i thought it was useful for me to abbreviate my remarks, speak off the cuff at the top and then most of the time just having a conversation. let me begin by saying all of you in this room are not just business leaders, not just ceos of you
the number of days before the nation is going to slip over the fiscal cliff and that is what people are talking about. unfortunately, in washington they are not talking to each other about it. right now president obama is meeting with the washington business roundtable. that's just minutes after speaker boehner met with rank and file gop lawmakers and former speaker pelosi met with house democrats. they are all in each other's corners speaking amongst each other but all eyes are on the fiscal...